Market Overview

A Peek Into The Market Before The Trading Starts

Related GM
Morgan Stanley Puts Brakes On Tesla Motors Inc Rally
Really, Elon? Tesla Motors Inc CEO Says His Cars Could Be Fully Automated Within 5-6 Years
NHTSA Missed GM Ignition Switch Issue Signs: Report (Fox Business)
Related NOC
Northrop Grumman Appoints Tarik Reyes VP, Business Development, Integrated Air And Missile Defense Division, Of Its Information Systems Sector
Benzinga's Top Upgrades
United Tech Wins $1.3B Air Force Helicopter Contract (Fox Business)

Pre-open movers US stock futures fell in the pre-market, as investors are awaiting durable goods data and earnings from General Motors Company (NYSE: GM). Futures for the Dow Jones Industrial Average dipped 64 points to 15,436.00, while the Standard & Poor's 500 index futures tumbled 8.60 points to 1,675.20. Futures for the Nasdaq 100 index fell 10.25 points to 3,037.75.

A Peek Into Global Markets European markets were lower today. The UK economy grew 0.6% in the second quarter versus the earlier three-month period. The German Ifo business confidence index surged to 106.2 in July, versus 105.9 in June. The Spanish unemployment rate declined to 26.26% in the second quarter from 27.16%. The Spanish Ibex Index fell 0.33%, London's FTSE 100 index declined 1.01%, STOXX Europe 600 Index dropped 0.99%, German DAX 30 index fell 1.03% and French CAC 40 Index tumbled 1.04%.

Asian markets ended lower, with China's Shanghai Composite dropping 0.60%, Japan's Nikkei Stock Average falling 1.14% and Australia's ASX/S&P500 dropping 0.07%. India's Sensex tumbled 1.42% and Hong Kong's Heng Seng Index fell 0.31%.

Broker Recommendation Analysts at Bank of America upgraded Northrop Grumman (NYSE: NOC) from “underperform” to “neutral.” The target price for Northrop Grumman has been raised from $75 to $105.

Northrop Grumman's shares closed at $90.30 yesterday.

Breaking news

  • Starwood Hotels & Resorts Worldwide (NYSE: HOT) reported a 12% rise in its second-quarter earnings and lifted its forecast for the year. Starwood's quarterly profit surged to $137 million, or $0.71 per share, from $122 million, or $0.62 per share, in the year-ago period. To read the full news, click here.
  • Colgate-Palmolive Co (NYSE: CL) reported a drop in its second-quarter profit. To read the full news, click here.
  • Onconova Therapeutics (NASDAQ: ONTX) announced the pricing of its initial public offering of 5,166,667 shares of its common stock at a public offering price of $15.00 per share, before underwriting discounts. To read the full news, click here.
  • Southwest Airlines Co (NYSE: LUV) reported a 1.8% drop in its second-quarter earnings. Southwest's quarterly earnings fell to $224 million, or $0.31 per share, from $228 million, or $0.30 per share, in the year-ago period. To read the full news, click here.

Posted-In: Bank of America US Stock FuturesNews Futures Global Pre-Market Outlook Markets

 

Related Articles (CL + GM)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters